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Is this a good time to sell my coin collection?
By David Gonzales - April 13, 2021
There are a number of factors that will determine if now is the best time for you to sell your collection.
1. The type of coins in the collection- Different types of coins can make the collection more or less attractive in terms of selling it. For example, silver dollars are much more desirable that common/obsolete foreign coins. Silver dollars are among the most collected coins in the world.
2. The spot price of gold and silver- Assuming your coins have gold or silver in them, the spot value of gold and silver can be a big factor, especially with larger collections. Gold and silver are both trading at higher prices, therefore the market presents a good opportunity to sell at a high point verses a lower one. Gold and silver are not at their peaks, but definitely higher.
3. Coin collecting is not a growing hobby- I often get asked, "if I hold on to my coins, will they appreciate in value?" There is not a one size fits all answer for all coins, but generally speaking coin collecting is a thing of the past. EBay has done great things for coins and really bad things for coins. The good news is that there is still a market to be able to sell(unlike stamps)
4. Desire for the collection- Most people that inherit coins, did not have an interest in coins prior to receiving them. Depending on the size of the collection, it can be a significant burden in storing, transporting, and protecting the coins. I often see huge tubs and boxes of coins. It's not only the coins that take up space, but the packaging of the coins as well.
5. Desire for the funds verses desire for the coins- Life is unpredictable, as most would agree(with recent events). Job loss, kids in college and the many other circumstances that would dictate whether you hold or sell.
This is not a comprehensive list, but I think you get the point. As I have said in many historical posts, I believe in getting the coins evaluated and appraised is an important step in the process. I don't believe you can make a decision to sell, if your not sure of what you have. Hope this helps!
Go Back 1. The type of coins in the collection- Different types of coins can make the collection more or less attractive in terms of selling it. For example, silver dollars are much more desirable that common/obsolete foreign coins. Silver dollars are among the most collected coins in the world.
2. The spot price of gold and silver- Assuming your coins have gold or silver in them, the spot value of gold and silver can be a big factor, especially with larger collections. Gold and silver are both trading at higher prices, therefore the market presents a good opportunity to sell at a high point verses a lower one. Gold and silver are not at their peaks, but definitely higher.
3. Coin collecting is not a growing hobby- I often get asked, "if I hold on to my coins, will they appreciate in value?" There is not a one size fits all answer for all coins, but generally speaking coin collecting is a thing of the past. EBay has done great things for coins and really bad things for coins. The good news is that there is still a market to be able to sell(unlike stamps)
4. Desire for the collection- Most people that inherit coins, did not have an interest in coins prior to receiving them. Depending on the size of the collection, it can be a significant burden in storing, transporting, and protecting the coins. I often see huge tubs and boxes of coins. It's not only the coins that take up space, but the packaging of the coins as well.
5. Desire for the funds verses desire for the coins- Life is unpredictable, as most would agree(with recent events). Job loss, kids in college and the many other circumstances that would dictate whether you hold or sell.
This is not a comprehensive list, but I think you get the point. As I have said in many historical posts, I believe in getting the coins evaluated and appraised is an important step in the process. I don't believe you can make a decision to sell, if your not sure of what you have. Hope this helps!